Author: NBTC
In a striking turn of financial events, gold and Bitcoin (BTC) have both soared to record-breaking highs, signaling a shift in investor sentiment that appears to diverge from traditional expectations related to monetary policy and interest rate cuts. Analyst Noelle Acheson recently highlighted these trends, noting that their timing coincides with a period where anticipations for reductions in the US Fed’s interest rates are being deferred — pointing to underlying factors beyond just monetary policy influencing these markets. Contrasting trends While the Federal Reserve maintains interest rates above 5%, the simultaneous ascents of gold and BTC prices suggest that other,…
Swell has launched a layer-2 restaking rollup alongside Ethereum scaler AltLayer and crypto staking project EigenLayer. The rollup will take the form of a “restaked rollup”, which comes with a range of services such as decentralized sequencing, verification and faster finality. Restaking refers to a process on Ethereum where ether tokens that are deposited as security for the network can be repurposed to secure additional blockchains and protocols. Ethereum staking protocol Swell has introduced a layer-2 rollup with $1 billion in total value locked (TVL) using Polygon’s chain development kit (CDK). Swell developed the rollup alongside Ethereum scaler AltLayer and…
Stifel resumed coverage of Galaxy Digital with a buy rating and a price target of C$20. The investment bank says the stock should be a core holding for digital asset investors, highlighting a potential Nasdaq listing as a key catalyst. Galaxy Digital (GLXY) should be a core holding for equity investors looking to gain exposure to the digital asset ecosystem, investment bank Stifel (SF) said in a research report on Wednesday. Stifel resumed coverage of Michael Novogratz’s crypto financial services firm with a buy rating and a price target of C$20. Galaxy closed 4.7% lower on Thursday at C$13.11. “The…
Online crypto pundits have outlined timelines for when to expect $10 trillion asset manager BlackRock to disclose genuine paperwork to create an XRP spot exchange-traded fund (ETF). BlackRock has been reigning the ETF landscape with its new Bitcoin spot ETF. However, the fate of a U.S.-listed XRP ETF hangs in the balance as BlackRock has yet to signal any concrete plans to introduce a comparable investment product for XRP. Nonetheless, members of the XRP community persist in their demand for a share of the lucrative ETF market. They believe XRP warrants an ETF, citing regulatory clarification as a non-security following…
The London Stock Exchange (LSE) recently announced that it will begin accepting applications for Bitcoin and Ether exchange-traded notes (ETNs) in the second quarter of 2024. According to the Crypto ETN Admission Factsheet outlining the requirements for these products released by the LSE, the ETNs that will be processed for review need to be backed by Bitcoin (BTC) or Ether (ETH). The products also need to be non-leveraged and have a publicly available market price or value measure. The exact date for accepting applications was not provided by the LSE; however, no statements from major financial institutions confirm that they…
The crypto industry rejoiced today on news that Bitcoin had broken its previous record for all-time highest (ATH) price. But whether the coin actually broke that record—and what the number to beat even was in the first place—depends on who you ask. Decrypt, for example, reported the news Tuesday morning based on American crypto exchange Coinbase showing a high price above $69,324 following numerous close calls since Monday. Coinbase’s previous all-time high was listed under the $69,000 mark. Ro Shirole, Chief Commercial Officer at Saxet, a Bitcoin mining company, told Decrypt that he tracked Bitcoin’s price today by using the…
Ethereum’s biggest update in over a year, Dencun, finally arrived on Wednesday after years of planning. It’s seen as a good thing. But maybe not universally so. Proto-danksharding, the main change coming with the Dencun update (a portmanteau of two simultaneous updates: “Deneb” and “Cancun”), marks Ethereum’s first step down the road of “sharding,” a method for increasing the chain’s transaction capacity by adding new lanes to its proverbial blockchain highway. The feature is specifically aimed at reducing fees for layer 2 “rollup” networks – chains like Optimism, Arbitrum and Coinbase’s Base network that run on top of Ethereum and…
In a momentous leap forward for AI infrastructure, OKX Ventures has sealed a groundbreaking investment deal with the DePIN project. This strategic alliance not only signifies a significant milestone in the realms of AI technology and decentralized networks but also heralds a new era of innovation and collaboration. This partnership marks the convergence of OKX Ventures, a stalwart in the cryptocurrency and blockchain arena, with the DePIN project, a visionary in decentralized infrastructure. Together, they embark on a journey to revolutionize AI infrastructure by leveraging the power of decentralized networks. The infusion of resources and expertise from OKX Ventures into…
BlackRock’s new Bitcoin fund is immensely popular: the iShares Bitcoin Trust (IBIT) set a new trading day record today, attracting close to $3.8 billion in volume. Nasdaq data shows that IBIT’s trading volume was $3.75 billion—smashing the previous record of $3.3 billion set just last week. The trading actions come as Bitcoin’s price hit a new high earlier today. The biggest cryptocurrency broke above $69,000 per coin on America’s biggest crypto exchange, Coinbase—although it then dropped quickly and is now priced at $63,500, according to CoinGecko. IBIT is one of the new spot Bitcoin exchange-traded funds (ETFs) trading in the…
The Ethereum Dencun upgrade is now live, triggering excitement in the Ethereum and larger crypto communities. A key impact of this major upgrade will be to reduce fees on the network, helping to ease congestion and improve scalability. The Dencun upgrade brings on several changes, the most notable of which is the implementation of ephemeral data blobs with EIP-4844, known as “protodanksharding,” which will help cut L2 transaction fees and thus usher in a new era of Ethereum scalability. Dencun activated! First block is in! 🎉 — terence.eth (@terencechain) March 13, 2024 As the Ethereum community celebrated the much-anticipated Dencun…